Question: Success. In August 2004, Time magazine reported the results of a random telephone poll commissioned by the Spike network. Of the 1302 men who responded, only 39 said that their most important measure of success was their work.
a) Estimate the percentage of all American males who measure success primarily from their work. Use a 98% confidence interval. Check the conditions first.
b) Some believe that few contemporary men judge their success primarily by their work. Suppose we wished to conduct a hypothesis test to see if the fraction has fallen below the 5% mark. What does your confidence interval indicate? Explain.
c) What is the level of significance of this test? Explain.